S. Korea's Auto Output Drops for 2nd Year, Still World's 6th Largest

Write : 2018-02-12 16:41:09 Update : 2018-02-12 16:55:15

S. Korea's Auto Output Drops for 2nd Year, Still World's 6th Largest

South Korea is the only nation among the top ten global automobile manufacturers whose output has decreased for the past two years.

According to data by the Korea Automobile Manufacturers Association(KAMA), South Korea produced over four-point-one million vehicles last year and retained its ranking of sixth in the world.

However, the country's auto production fell two-point-seven percent in the past year due to lackluster exports and domestic demand. Seventh-ranking Mexico is closely behind South Korea, narrowing its gap to just about 40-thousand units. 

KAMA has attributed the decreasing output to sluggish exports resulting from slowing demand in the U.S., a shrinking market for passenger cars and slow economic recovery in the Middle East and Latin America.

China was the top carmaker in 2017, producing 29 million vehicles. The U.S., Japan, Germany and India rounded out the top five. 

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